Year: 2025
Type: dissertation
Abstract: How and when do established art organizations maintain legitimacy with art investors in the digital era?Using annual report content analysis in a case study on Sotheby's (2000Sotheby's ( -2023)), the only large publicly listed auction house, this study identifies when and how Sotheby's maintains legitimacy through digital transformation to meet investor expectations.It identifies three phases of changes to legitimacy.Findings suggest that for established organizations, legitimacy is maintained by decoupling illegitimate practices and disclosing legal operations when regulatory legitimacy is challenged; by enhancing global presence and fostering investor relationships when pragmatic legitimacy is expected by investors; and by leveraging resources and experimenting with novel technologies when cognitive acknowledgement is at risk.The study contributes to the literature by demonstrating the valence of longitudinal analysis in understanding legitimacy management in the art market where public data are limited, identifying effective digital transformation approaches established organizations can apply under different conditions.
Author: Liu, Jiaxin
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7217361947